Sunday, March 10, 2013

Option Open Interest for 08-03-2013

Inference
Nifty opened positive, just above the previous day’s close and stayed in a narrow range with positive bias throughout the morning session. The index took off in the afternoon session on the back of huge short covering to see 5980 on the future, and closed just below in Spot at 5945.70, still a huge gain of 82.40 points. The broader market was positive, with 980 advances to 529 declines. The OI table saw huge addition at 5900PE, maybe the next level of support in a day or two.

India VIX :13.34 up by 0.27 pointsCall OI : 34018500Put OI : 48454600PCR OI : 1.424SMR : 9.37 (Bullish: Option Table right now is bereft of any resistance with CE writers covering fast, momentum looks good for the Bulls but SMR below 10, time to be cautious with longs...)